eld debt looking forward, page-11

people seem to forget that forestry investment schemes died a death in Australia and the GFC hit. Asset sales post GFC was suicide so I can understand the delay in selling Futuris and forests. many here seem to blame ELD management for the GFC - or thinks ELD management should have seen the GFC coming and not made the promises made in the capital raise. Sorry guys thats just crying into your beer - nonsense.

Most other Australian companies involved in MIS forests are gone with all holders losing everything.

I'm looking forward to the annual results and impending asset sales before i make a judgement on current management. Of course my avg price is about 36c now after my initial buy in at $1.50 so I am not as bitter about the history as some - I am only looking forward. Most of my holding was purchased at 22c which i think is a bargain price if the group can survive and return to profit which looks increasingly likely.

I think the rural network, and Elders brand has a future and investment in that business is still constrained by expensive to maintain and grow forest assets. Elders previous management was bedazzled by MIS forestry and so long as new investors piled in it looked like a good business. Since the trouble in that industry Elders cannot afford a long term view on forest asset value only the short term cash flow pain matters right now. If it can exit without losing its shirt it should do so and leave forests to long term investors with deep pockets who can afford a 30 year asset maturity cash asset like pension funds.